Off the wire
• China opens Horgos railway port in Xinjiang  • News Analysis: Strategic consideration behind frequent Modi-Obama meetings  • Spotlight: Japan swallows bitter fruit of self-sown inferiority in alliance with U.S.  • Number of rare dolphins on the rise in China  • Havana inaugurated as one of "seven wonder cities"  • Russia's Irkut rolls out MS-21 passenger jet  • Brazilian prosecutor seeks to jail senior politicians  • Russia's gas revenues down 29 pct in first four months of 2016  • Albanian police chief suspended over wiretapping scandal  • Japanese online retailer Rakuten to shut up shops in Britain, Spain, Austria  
You are here: 　 Home

World Bank maintains Vietnam's economic growth forecast in 2016-2018

Xinhua, June 8, 2016 Adjust font size:

The World Bank (WB) on Wednesday maintained its forecast for Vietnam's average economic growth of 6.3 percent during the 2016-2018 period, unchanged compared to its earlier forecast in January 2016.

In the latest update of WB's Global Economic Prospects, Vietnam's economic growth during 2016-2018 period is based on all categories of demand buoyed by strong foreign direct investment, growing exports of manufactures, and solid labor markets.

Among the large developing ASEAN economies, Vietnam and the Philippines have the strongest growth prospects, said a press release by WB Vietnam on Wednesday.

Meanwhile, in late 2015, Vietnam's National Assembly targeted the country's economic growth to be 6.7 percent in 2016.

Vietnamese Prime Minister Nguyen Xuan Phuc last Friday said his country's economic growth is expected to hit around 6.8 percent in 2017.

In the report, the WB is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows. Endit